A federal district court has permanently barred St. Louis truck driver Charles Eden from preparing federal income tax returns for customers. In entering the civil injunction order, Judge Stephen Limbaugh found that Eden "continually and repeatedly" understated customers' tax liabilities "by fabricating or grossly inflating their tax deduction." The order states that Eden's activities over the last five years have cost the government nearly $3.5 million. The court ordered Eden to notify his customers of the injunction and to provide the Justice Department with his customers' names, mailing and e-mail addresses, and phone and Social Security numbers. "People who prepare false or fraudulent tax returns are cheating not just the federal treasury, but all law-abiding taxpayers," said Eileen J. O'Connor, assistant attorney general for the Justice Department's Tax Division. "The Department of Justice and the Internal Revenue Service are working vigorously to stop these systematic abuses of the tax system."
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The International Ethics Standards Board for Accountants decided to move ahead on a project to update its International Code of Ethics for Professional Accountants.
10h ago -
Regional Leader Kernutt Stokes will acquire accounting firm Fordham & Co, effective July 1, to grow its presence in Portland, Oregon.
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RSM Mexico will join RSM's transatlantic platform with entities already in the U.S., the U.K., Canada and Ireland, as well as teams in India and El Salvador.
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The Internal Revenue Service had to hire over 2,000 employees after reducing its workforce last year by nearly a third, according to a new report.
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With AI poised to take over basic tax prep, practitioners need to double down on the value they've always added, says AICPA chair Jan Lewis.
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Current IASB chair Andreas Barckow's term ends on June 30, but his final successor isn't expected to be installed until Oct. 1.
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